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[co-author: Perry Laub] SEC”) has brought an enforcement action against a special purpose acquisition company (“ SPAC”) and its major participants, highlighting enhanced regulatory scrutiny of SPACs and underscoring the importance of following appropriate diligence and other practices in the de-SPAC process. On July 13, 2021, the U.S. Securities and Exchange Commission announced that it had brought an enforcement action against Stable Road Acquisition Company (“ Stable Road”), its sponsor, SRC-NI (“ SPAC Sponsor”), its CEO Brian Kabot, Stable Road’s proposed merger target, Momentus Inc., and Momentus’ founder and former CEO Mikhail Kokorich for their involvement in a SPAC business combination. Stable Road is a SPAC that completed its initial public offering of 17,250,000 units at a price of $10.00 per unit, generating gross proceeds of $172.5 million, on November 13, 2019. Momentus, a Delaware corporation, is a privately-held space transportation company that p

United statesBrian kabotGary genslerMikhail kokorichExchange commissionProskauer roseEnforcement divisionMomentus incStable road acquisition companyStable roadSecurities actAppropriate diligence processInvestigate core businessAddress areaWill be tailoredஒன்றுபட்டது மாநிலங்களில்